According to IMARC Group’s latest report, titled “Database-as-a-Service Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The global database-as-a-service market size reached US$ 20.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 68.9 Billion by 2028, exhibiting a growth rate (CAGR) of 20.7% during 2023-2028.
Database-as-a-Service (DBaaS) is a cloud computing managed service through which users can access cloud database systems without requiring an on-premise database management system. It ensures round-the-clock availability of secured database systems and integrated management tools, such as logging, key management, and activity tracking utilities. DBaaS also offers simplified configuring, monitoring, and database maintenance processes, thereby supporting organizations in risk management, consumer-targeted marketing, and controlling overhead expenses. As a result, it is gaining momentum across small and medium-sized enterprises (SMEs), globally.
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Market Trends
The increasing penetration of smartphones, along with the growing popularity of software-based mobile applications, is primarily bolstering the market for DBaaS. Additionally, rising levels of digitization in the banking, financial services, and insurance (BFSI) sector, leading to an increased data volume, are further augmenting the need for an efficient database management system. Besides this, the growing consumer preferences towards personalized preventive care and health management systems are propelling the adoption of DBaaS in the healthcare sector. Moreover, the sudden outbreak of the COVID-19 has led to the implementation of stringent lockdown regulations across several countries. As a result, numerous organizations have adopted remote working models and cloud computing services, thereby catalyzing the demand for DBaaS for remote exchange of documents and database management.
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List of Key Companies Covered in this Market Report:
Amazon
CenturyLink
Google (Alphabet Inc.)
IBM
Microsoft
Oracle
Rackspace Technology Inc.
SAP SE.
The report has segmented the market on the basis of type, deployment type, organization size, end user and geography.
Breakup by Type:
SQL
NoSQL
Breakup by Deployment Type:
On-Cloud
On-Premises
Breakup by Organization Size:
Small Enterprises
Medium Enterprises
Large Enterprises
Breakup by End User:
BFSI
Healthcare
Government
Others
Breakup by Geography:
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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